Set Your Group Home on Autopilot
++ Let’s Do Some Math ++
Let’s take a 4 bedroom home.
You can rent out this home for say $1800 – $2000 to a traditional single renter or single family. Your mortgage comes out to $1500 so this is some decent cash flow.
Now let’s say this home has a converted garage too. It’s some extra space but you can’t really rent it for more, and a lot of traditional renters prefer a garage so this conversion was kind of a waste of time.
Rather than rent the traditional way, what if you put 2 beds in each room (including the garage) LIKE THIS, and then charged $600 per bed. Break out the calculator and now how much is your home bringing in?
That’s RIGHT
$6000
BUtttttttt……Why would anyone want to live in a situation like that???
Well let’s see.
Pretend you are retired and you can’t work anymore. You had a tough job that made enough to pay the bills and just planned on living on the Social Security you thought was going to be your safety net your whole life.
Big Problem though.
Social Security hasn’t kept up with inflation and you only have $1300 to pay for everything. Food, clothes, gas, rent, electric, water. Everything. And you’re in an area where you can’t get an apartment for less than $1000 including all the bills.
Do you see how a clean, affordable, furnished, structured environment, with like minded people just like yourself could be preferred?
And the best part??
It’s only $600 with all the bills paid AND FOOD!
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Now let’s do some more math:
When Andy was really rocking and rolling and scaling his Group Home business, each one of his house managers controlled around 15 homes.
We’ll use 4 bedroom homes, no garages, for this example to underestimate.
4 Bedrooms x $1200 = $4800 Gross Revenue
50% was used on expenses (bills, rent/mortgage, food)
$4800 x 50% = $2400 Net Revenue
Now remember what we said. Each manager was in control of FIFTEEN HOMES. That is a full time job for sure. Each house will have a supervisor so you don’t need to stop in every day. But there will be maintenance issues, showings, tenant issues, collections, inbound calls etc. etc. They were HUSTLING for sure and definitely putting in overtime most weeks. But again
DO THE MATH
$2400 x FIFTEEN HOMES = $36,000
Remember…that was the NET. And for 1 month.
You’re the Operational Manager in beginning, but can you see how you could partner with someone else or just pay a salary and replace yourself????
Andy was able to do this around his 5th home.
At this point, you’re day to day activities are next to NADA if you have a good manager. And of course, if no houses burn down or anything.
Now you can see why he’s able to travel with his family wherever and whenever he wants, why he has the time to run a few other businesses, blog, and make youtube videos on the beach!!!
What makes Group Home business so appealing is you don’t need any qualifications, a license or great credit!!!
You can eventually scale and run your business on autopilot just like Andy did
AND THE BEST PART???
You’re helping your community and people in need!!!
You don’t need a lot of money either!! We have a lot of members get started by leasing LIKE DUANE HERE, or even acquiring properties with little to NO MONEY like JAMIE DID HERE or SHERL DID HERE.
You can do the same thing these people did no matter where you are located, or what your financial situation is.
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